Just settled on a $50k+ loan, I’m so thrilled! Student Loans |
- Just settled on a $50k+ loan, I’m so thrilled!
- Payments on Multiple Loans from the Same Servicer
- Trying to refinance student loans
- Help paying off loans for enlisted Air Force
- Question regarding defaulted loans, garnishment, and taxes.
- Parent looking for general guidance
- Recent windfall & low interest rates: To pay it off or not?
- Wells Fargo no longer doing student loans as of Jan 2021
- Married and IBR plan and taxes HELP PLZ
- Student loan forgiveness due to disability?
- Borrower Defense?
- How do I take out a loan for grad school if I may be able to pay for the first year in cash?
- Taking a home equity loan to pay off student loans?
- Private loan asking for $1000 a month
- I had a call with a student debt collection agency. I thought student debt was paused?
- Having to rely mostly on private loans for my undergrad?
- $90k in student debt
- Closed School Federal Student Loan Discharge
- Other Financial Aid Options
- Error Message with Navient
| Just settled on a $50k+ loan, I’m so thrilled! Posted: 28 Jan 2021 09:06 AM PST I've had private student loans with collectors for 6+ years. I was introduced to Ramsey in September and decided to do financial coaching in October. Since October we saved up enough for a 40% offer to one of my lenders and we settled! I still have 70k+ tied up with another collector, I'm aiming to settle with them next. I'm thinking by August I'll have enough to make a reasonable offer. I'll keep offering them the small amounts I save until then hoping they bite. I could potentially be debt free by middle of next year (I have federal to pay off too). I'm so excited I just had to share! [link] [comments]  |
| Payments on Multiple Loans from the Same Servicer Posted: 28 Jan 2021 07:58 PM PST My student loan servicer is FedLoan. I have federal direct and Parent Plus loans. I know I have to make separate payments for the different types of loans because they are under different accounts, but do I have to make separate payments each month within the same account? For example, in my father's Parent Plus account, FedLoan lays out my four PP loans from each year of school. Since they are all listed in the same account, can I make one lump sum payment each month, or do I have to make four separate payments, as in one towards each individual loan? I am just confused because in the repayment document they sent me, it lists the monthly payments for each individual loan in one table, but it also shows a consolidated standard monthly payment in a different table. If anyone could help me out here, I would really appreciate it! [link] [comments]  |
| Trying to refinance student loans Posted: 28 Jan 2021 04:16 PM PST My wife and I are looking at refinancing her student loans. She has about 60k in private student loans and because of current events has been unemployed for over a year now. I would be her cosigner as I still have a stable income. We both have good credit scores to my knowledge. Does anyone have any recommendations on places to try to refinance? Is it even possible with her having no current income? [link] [comments]  |
| Help paying off loans for enlisted Air Force Posted: 28 Jan 2021 03:06 PM PST Hello, I'm currently an E-3 in the Air Force and I've been in for little over a year now. I came into the Air Force with $38k in debt and I still have $28k left. Does anyone know of any grants that I can apply for or any additional help I can get to pay off my loans. I would appreciate any programs or websites that would be able to help me! Any advice would be nice as well! [link] [comments]  |
| Question regarding defaulted loans, garnishment, and taxes. Posted: 28 Jan 2021 04:56 PM PST Hello, I had taken out some student loans for my schooling a few years ago, 2010-2014. Long story short, my loans defaulted two years ago, the Department of Education started garnishing my wages, and last tax season my wife and I didn't receive our refund (filed jointly) because the DoE took it to be used on my debt.Since the pandemic, and since loans payments and interest has been halted, the garnishments have stopped. My question here is how should my wife and I file this year in order for her to at least receive her refund, since she has nothing to do with my loans, I took them out way before I met her. Should we file jointly like we usually do since loan repayments have been halted until at least September? Or should we file separately so in case the DoE takes my refund again she can still have hers? Thank you in advance and I apologize for any ignorance, I have barely the most basic of understating of any of this. [link] [comments]  |
| Parent looking for general guidance Posted: 28 Jan 2021 04:37 PM PST Clueless immigrant parent here, sorry. My kid will start college this fall and by March we'll know where he's going - in state, out of state, public, private, I have no idea. We filled out the FAFSA forms in December and I think we also filled out some AID forms for my state - PA. Some questions: (1) Even though he's a 4.0+ GPA student, is it correct to assume that he will not get any financial aid because his parent earns well? Over 250k annually. If not, should I apply for financial aid anyway? What's the process to follow here? (2) If I decide to get a loan to pay off his college expenses, what sort of interest rate can I expect to get? My kid has no credit history/score, mine is 800+. If the interest rate is really low, it will make sense to get a loan instead of pulling money out of investments. How do I apply for a loan? On studentaid.gov? Thanks in advance! [link] [comments]  |
| Recent windfall & low interest rates: To pay it off or not? Posted: 28 Jan 2021 01:38 PM PST After almost ten years of furiously working at it I've reduced my $138k student loans down to $29k. I've pursued a strategy of aggressively paying down my loans and was able to refinance them such that I pay roughly $750/month on only ~0.4% interest. I recently received a large windfall or approximately $19k. I have maxed out my 401k every year of my working adult life so that my retirement investments (at age 32) are roughly equal to slightly more than twice my annual income. My question to this group is, do I focus on continuing to single-mindedly pay off these loans or is it actually a bad way to spend this money? Especially since the interest rate is roughly equal to what a good online savings account APY is, I reckon I could be holding on to it and putting it to be better use some other way, like starting to save for a home. At the same time, paying off the principal will probably cut the monthly payment down by about $500 too, which would be really helpful. What do I do? [link] [comments]  |
| Wells Fargo no longer doing student loans as of Jan 2021 Posted: 28 Jan 2021 10:39 AM PST I just saw that WF is getting out of the student loan business as of this month. All accounts will be transferred to Firstmark, which is part of Nelnet. I spoke with a rep today who told me date of account transfers are TBD, more info forthcoming, etc etc. I wonder how this will affect account management, if at all? I actually already am with Nelnet for my federal loans and I find them pretty easy to deal with. I have a slightly reduced interest rate on my WF loan because of auto-payments, the (variable) interest rate right now is only 3%, so I'm apprehensive about whatever changes might happen since I'm pretty satisfied with dealing with WF, who has good customer service in my experience. [link] [comments]  |
| Married and IBR plan and taxes HELP PLZ Posted: 28 Jan 2021 01:20 PM PST My husband and I got married last year February 29, 2020 - my VERY expensive student loans are on an income-based repayment (IBR) plan. This particular plan says that it CAN take into consideration my husband's income when determining the amount I would have to pay back. I have to re-certify each year in December and then the new payment starts in January. My husband has been on unemployment since March 13, 2020 (yes, because of covid). I'm wondering if unemployment income would count as income for him? We're doing our taxes now and would have a much larger return if we file jointly than if we were to file separately. BUT if the IBR plan takes into account his unemployment money when I go to recertify for next year it could make my payments go up a lot. Advice?? I make around $50k, husband made around $50k in 2019 but $30k in unemployment in 2020. ALSO, he has gone to school to become a heavy equipment operator and will be making ~$60k this year after he gets hired on somewhere so if we file jointly this year can we change it to separately next year?? Would just like to keep my student loan payments to a minimum / not count on my husband's income if possible. [link] [comments]  |
| Student loan forgiveness due to disability? Posted: 28 Jan 2021 05:51 PM PST Hey all, I have done some research on my own about this but can't seem to find anything that answers my specific situation. Here's what happened: I started my Master's program in athletic training at a private university in 2018. Part of the curriculum at this particular school (but is not required by the accreditation agency 🙄) is to write an original research paper. I failed to submit portions of the paper on time and had to retake the course twice. My third time taking the course I finally just dropped out. I didn't want to waste any more money at this private university and I was getting no support by my mentor in writing this paper. But it was the last thing I needed to graduate. I had 46 credits completed when I left. Along with not completing this project, I had other issues with professors, preceptors, and students and sought a lot of mental health support at this time. Including reaching out to the schools office of accessibility for my diagnosed clinical depression. After all that I have about 75k in students loans, about 60k coming from my 2.5 years in graduate school, and about 52k of that is federal loans. Now, four months after I dropped out, I have been diagnosed with Aspergers at the age of 25. After a lot of self discovery and research about Autism, I know that a lot of my problems in graduate school including the paper were due to my undiagnosed autism. I can't transfer my credits to another athletic training program or qualify for federal loan forgiveness through a disability that makes me incapable of working. Under the premise that I did not complete my graduate program because of unaddressed disability at the time, is there any sort of law, regulation, student load debt program, or charity that would provide loan forgiveness for someone in that type of situation? I know this is a bit of a stretch but any information on options to reduce the burden of student debt on a disabled person is greatly appreciated. [link] [comments]  |
| Posted: 28 Jan 2021 03:43 PM PST I took out student loans following being raped by someone I met on campus. When I called to report this individual I was told there was a previous allegation against them. I continued to see this individual on campus several times, at the same location I and the previous person had reported their whereabouts. No school police were ever present at this location. Due to this incident I had to withdraw from school all together. I feel I was mislead in the school's ability to keep the campus safe and their staff who encouraged me to continue school, leading me to take out the loans despite clear signs I was struggling to take care of basic everyday activities. Do I have any case here? (P.S, I had dropped below the credit hours needed for the lottery scholarship after the incident, to which I reapplied with a letter claiming I could attend fulltime (from the "support" given to me through their counselors) When classes began, it was clear that with my PTSD still exacerbated from this incident that I would be unable to complete my studies and not return, thus having me drop from the university) [link] [comments]  |
| How do I take out a loan for grad school if I may be able to pay for the first year in cash? Posted: 28 Jan 2021 09:35 AM PST I have money saved and I'm thinking it may be enough for the first year. But we'd definitely need loans after that. How do I do it? I've done my FAFSA, so if I'm offered a federal loan amount, how do I 'not' take it this year, but then 'get' it next year. Sorry if this is a dumb question, but I've never had a student loan before this. [link] [comments]  |
| Taking a home equity loan to pay off student loans? Posted: 28 Jan 2021 01:09 PM PST Hi guys, I'm 32 and I still have $75k in SL debt. Paid minimums since I graduated. Refinanced to a consolidated 6% loan, but I still struggle to make the $715 monthly payment. I've worked in finance since 2011 but I only make ~$80k/year. (Yup 10 years in the game just to get to $80k). My mother said she'd look into taking a home equity loan out to pay off my loan. Is this a good idea? She can probably get it for a 2-3% rate (not sure on specifics yet, variable or fixed). I don't own my own home. I've been renting since 18. How bad will her credit be affected? She doesn't owe much left on the house which is worth about $450k. Any other suggestions? Should I ask for a raise lol? I honestly don't understand how some people start @ $90k out of college. Cheers. Thanks in advance all! [link] [comments]  |
| Private loan asking for $1000 a month Posted: 28 Jan 2021 01:08 PM PST My partners private student loan called recently and said that since she is no longer in school her payments are going to rise to $1000 dollars a month. This is an amount that neither of us can cover without moving home, especially during the pandemic. Does anyone have experience or advice on what to do? [link] [comments]  |
| I had a call with a student debt collection agency. I thought student debt was paused? Posted: 28 Jan 2021 07:07 AM PST I'm kinda shaken up right now. I'm not doing great financially right now, and am taking a semester off of school to try and get on better footing. Unfortunately I started my morning off with a phone call with a debt collection agency asking me about a ~$3000 payment. I don't know what to do. My parents and family have been really supportive of me, but I feel like I rely on them too much already. These payments are already going to hurt my non-existent credit score too. I'm just lost. [link] [comments]  |
| Having to rely mostly on private loans for my undergrad? Posted: 28 Jan 2021 10:03 AM PST Hi all, I got into nursing school and will be attending this fall. I filed the FAFSA on October first to have it done first thing and finally heard from the financial aid department. I'll be able to take out the federal direct subsidized and unsubsidized loans in addition to a 2K scholarship with an EFC of $19K. The EFC is more than I have to contribute to school so I'll be left to come up with $40K for school. Any suggestions for private loans? I really thought I would get more in terms of financial aid and scholarships but I don't qualify for most scholarships so here I am trying to figure out what to do. If it's relevant I'm 25, file taxes as an independent and make about 29K a year currently. The nursing program is two years for an RN and BSN so I'm looking at 80K in private loans in addition to the federal loans. So Reddit, any advice on private student loans for an undergraduate? [link] [comments]  |
| Posted: 28 Jan 2021 08:54 AM PST Hi, so I am graduating this year with $120,000 Parent Plus loans and about $90,000 navient (federal) student loans. I am trying to be proactive while there's 0% interest and pay as much down as possible. Since I'm in school, it's a little bit of a struggle. I am looking for any tips possible to pay it down, or any advice. Starting in July/August I will be making over $90,000 a year. The parent plus loans I'm not as worried about since they are under my parents' name and since they make close to nothing, will be able to do an income driven type of repayment. However, for mine, I would like to pay them off as soon as possible (right now I used a calculator and the payment per month over 10 years will be approx $1,000). I would like to stay with Navient for now, as I'm praying for Biden to cancel student debt (or at least some of it) [link] [comments]  |
| Closed School Federal Student Loan Discharge Posted: 28 Jan 2021 07:55 AM PST I'm sure this wasn't the first time that this question was asked, but I'm wondering if doing something differently will work. My SO's school is closing. All of her loans as far as I know have been federal, and none are privatized. They waited until after the deadline to receive a full-tuition refund for the semester had passed to let students know about this decision. There was no notice or anything close to notice of this coming. It's a top 5 school for nursing in our state and seemed really strong but I guess what happens behind closed doors will always be unforeseeable. I understand that transferring credits constitutes an acceptance of keeping the loans you currently have. I also understand that opting for the teach-out (which is being offered) also requires you to keep your current loans. The issue here is that the new school is ridiculously expensive, and it's not even a top 10 school for her program in the state. Could she receive the loan discharge, retake her SATs, and apply to another school at a later date with 0 credits transferred? I understand how bold of a decision this is, but resetting two years of progress is better than an additional 80k debt for worse job prospects. Thanks for any and all input. [link] [comments]  |
| Posted: 28 Jan 2021 07:38 AM PST I'm over my course completion ratio, my SAP was denied. I can't seem to find any solid scholarship opportunities. Any private loan suggestions? Or should I just scrape my pockets and sell my soul. [link] [comments]  |
| Posted: 28 Jan 2021 01:04 AM PST Hey all, I've tried to login into my Navient account the last 3 days, and every single time it gives me an error message "We're sorry -- an error occurred. Please try again." I've reset my password, can't email support because I can't login. I've done everything I can think of. I'm just trying to get a copy of my Form 1089-E. Does anyone have any ideas? Thanks very much. [link] [comments]  |
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